Investors are piling into emerging market stocks in search of bargains amid mounting concerns over high valuations in the US, a closely watched survey of fund managers has shown.
A net 37 per cent of fund managers are overweight EM equities, the highest level since February 2023, according to the monthly poll by Bank of America.
“Investors are very bullish on the outlook for emerging market equities,” said Elyas Galou, investment strategist at BofA. “When we couple rising optimism on the Chinese economy with the bearish view on the US dollar, this is a great combination for emerging markets.”
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